$4.7bn
$XXX.Xm
29,859
101
$X.Xbn
The shift from physical currency transactions towards credit card and digital wallet usage has intensified. Between 2019 and 2022, the Federal Reserve reported declining cash usage across various retail locations, including grocery stores, fast food outlets and sit-down restaurants. The growing influence of fintech, reduced costs associated with online banking and the convenience of non-cash payments have pressured the use of ATMs and cash management services. The rising adoption of online banking led bank branches to downsize, limiting the client pool for businesses offering cash-in-transit (CIT) services. Still, the rising currency in circulation originating from stimulus packages combined with the inflationary pressures prompted consumers to raise their on-hand cash holdings. Revenue is expected to increase at a CAGR of 2.4% to $4.7 billion through the end of 2024, including a decline of 1.6% in 2024 alone.
Industry revenue has grown at a CAGR of 2.4 % over the past five years, to reach an estimated $4.7bn in 2024.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Brink’s Co | 1,138.0 | 125.3 | 11.0 | |
Loomis AB | 1,086.5 | 131.5 | 12.1 | |
Garda World Security Corp | 744.5 | 116.6 | 15.7 |
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Industry revenue is measured across several distinct product and services lines, including Cash-in-transit (CIT) services, Automatic teller machine (ATM) services and Cash management services. Cash-in-transit (CIT) services is the largest segment of the Armored Transportation Services in the US.
Expanding currency in circulation prompts a rise in cash-in-transit services (CIT)
The industry is composed of companies that pick up and deliver money, receipts or other valuable items in armored vehicles. These establishments maintain personnel and equipment to protect such properties while in transit.
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NAICS 56161 - Armored Transportation Services in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The growing adoption of digital payments is pressuring ATM usage and cash management services. Consumer preferences are shifting to favor mobile payments over physical curren...
Learn about an industry's products and services, markets and trends in international trade.
Retail businesses rely on CIT services for weekly cash pickups. Physical currency remains a popular payment method, especially in underdeveloped regions where digital wallet ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The Southeast benefits from the population size, which supports business activity and the proliferation of establishments. Higher population density inherently supports the u...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Major companies in armored transportation rely on strong brand recognition. The reputation helps them secure contracts with businesses across industries, even amid increasing...
Learn about the performance of the top companies in the industry.
The industry's top three companies control over 70.0% of the market. The businesses benefit from established brand images and operations dating back to the 1800s.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Drivers must hold a commercial driver's license and follow hours-of-service rules. The stringent requirements aim to prevent driver fatigue and maintain high safety standards...
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Companies are reducing their workforce and optimizing operations to combat high wages and insurance costs. The adjustments aim to maintain profitability amid rising expenses ...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Armored Transportation Services in the US industry in United States is $4.7bn in 2024.
There are 101 businesses in the Armored Transportation Services in the US industry in United States, which has grown at a CAGR of 4.0 % between 2019 and 2024.
The market size of the Armored Transportation Services in the US industry in United States has been growing at a CAGR of 2.4 % between 2019 and 2024.
Over the next five years, the Armored Transportation Services in the US industry in United States is expected to decline.
The biggest companies operating in the Armored Transportation Services market in United States are Brink’s Co, Loomis AB and Garda World Security Corp
Cash-in-transit services and Cash handling and management are part of the Armored Transportation Services in the US industry.
The company holding the most market share in United States is Brink’s Co.
The level of competition is high and steady in the Armored Transportation Services in the US industry in United States.